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Problem 1 : A real estate corporation has the following information for the year 2 0 2 3 :SalesCost of Land SoldSelling and other expensesUnrealized

Problem 1: A real estate corporation has the following information for the year 2023:SalesCost of Land SoldSelling and other expensesUnrealized gain due to increase of land'sFair Market Value1. Compute for the tax due and payable.2. Assuming the business is sole proprietorship, compute for the tax due if:a. using the graduated/progressive tax tableb. using the 8% special tax rate

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